Early-stage medical imaging company RFPi said today that it raised $2 million in an angel round to support the development of a commercial-scale model of its real-time, non-invasive blood-flow imaging device.
Greenville, N.C.-based RFPi’s device is designed to show blood flow in vascular structures and critical tissues in real time during surgery, using its iCertainty platform to visualize and quantify blood flow and perfusion without injection, dyes, radiation or direct patient contact, the company said. RFPi said it still hopes to sell another $1.5 million worth of equity in the round.
“Angel investors – who see ideas for new medical devices all the time – recognized the potential for our device to permanently advance non-invasive medical imaging in terms of speed, ease of use and safety. We are grateful for their show of support and excited about moving toward achieving our key corporate milestones. In today’s healthcare environment, it’s not enough for new medical devices to be clinically effective only. RFPi’s iCertainty technology can deliver brand-new information that adds value to the health-care system by improving outcomes and reducing costs,” CEO Jeff Basham said in prepared remarks.
Working prototypes have been used in pre-clinical trials for more than 3 years, the company said. RFPI said it expects to submit a Class II 510(k) application to the FDA by early 2017.
The technology behind the RFPi device was originally invented in 2010 at East Carolina University, where it went through bench-top testing and the experimental, clinical proof-of-concept and validation study phases, the company said.